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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

U.S. said to probe banks over sovereign wealth fund deals

Posted on 04 February 2014

The U.S. Justice Department is investigating whether financial firms made improper payments to secure investments from sovereign wealth funds, according to two people familiar with the matter.
The probe, which grew out of a Securities and Exchange Commission inquiry, looks at firms including Goldman Sachs Group Inc. that sought business from Libya’s sovereign wealth fund before Muammar Qaddafi’s regime was toppled in 2011, said one of the people, who asked not to be identified because the investigation isn’t public………………………………………..Full Article: Source


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